RMDs

Clients can use Roth IRAs, 529 plans and — yes — life insurance to give their children a head start.

A lump-sum distribution for net unrealized appreciation on employer stock can slash a tax bill in half, but there’s plenty of fine print.

With accounts now often reaching seven figures, estate planning expert Natalie Choate delved into the complexity of the increasingly important tool.

There are still several moves that clients can make to reduce their 2018 tax bill.

Errors are regrettably common. They are also easily avoidable.

Those who fail to meet the cutoff face a penalty equivalent to 50% of their required minimum distribution.

A higher standard deduction makes itemizing deductions less valuable.

The tax law has made deducting philanthropic contributions more difficult, but there are ways to help clients reap benefits from their generosity.

To qualify for this feature, clients should have reported a minimum amount for at least 11 years.

Those who fail to repay their loans on time may face early withdrawal penalties.

If the client makes a mistake, they are advised to take the RMD as soon as they discover it so they can ask the IRS for a waiver of the penalty.

Retirement plans may decline to offer delayed RMDs, plan loans, stretch and hardship distributions and a host of other legally sanctioned tax maneuvers.

Clients can avoid tax liability on their capital gains by donating securities that have appreciated in value, an expert says.

Seniors are more likely to opt for the standard deduction, which increased under the new tax law, but those who want to maximize their deductions have several considerations.

A recent ruling by the U.S. Labor Department could open the door for automatic 401(k) transfers between employers, which means fewer workers will be tempted to cash out.

One of the major provisions of proposed legislation would require 401(k) plans to offer annuities so participants could create new income streams.

Despite Social Security's financial woes, the revenue shortfall can be easily fixed, say experts at Boston College Center for Retirement Research. But it will only go so far in paying for living expenses.

Workers should urge their employers to offer this savings option in their 401(k) plans to save for emergency and unforeseen expenses.

Advise them to review and adjust their budget and consider getting a side hustle, a study suggests.

Military families can use one of these provisions to seriously cut their tax burden. Plus, can clients make an IRA contribution on behalf of a deceased person?